5 Must-Know Nuggets of Casino Gambling Trivia

Let me tell you, back in the day – I'm talking about 35 years ago – if you wanted to hit the slots or the blackjack tables in the U.S., your options were pretty darn limited: Nevada or New Jersey, take your pick. Fast forward to 2014, and bam! You've got casino action in 40 states. Nevada's still holding the fort with 200+ operations, but the rest of the country's not far behind with over 700 casinos, including those run by Native American tribes. Check this out – of the top 20 big cities, 17 have casinos just a hop, skip, and a jump away (within an hour's drive). But don't get it twisted, the market ain't some bottomless pit. Just look at Atlantic City, where three casinos site web. Too many cooks in the kitchen, or in this case, casinos in one area, and you've got yourself a recipe for a market that's eating itself up.

2. Local Casinos: Jackpot for Taxes, Not So Much for Other Fun Stuff

Vegas is the big cheese, the holiday hotspot, but the real bread and butter for the U.S. casino biz are the local joints catering to folks living just a short drive away. These local casinos are like gold mines for the states, 'cause they can slap on some pretty hefty taxes – we're talking 30% or more – on the gambling revenue without scaring off the investors. Compare that to your average night out for dinner and a movie, where you're only coughing up like 5% to 6% in sales tax.

Then there's the tribal casinos, which are playing the game with a whole different set of rules – thanks to Uncle Sam, they're often paying way less in taxes. States like California, where tribal casinos are king, end up with a lighter wallet when it comes to gambling taxes.

For the average Joe or Jane hitting up a nearby casino, the wallet's usually around $80 lighter after a visit. But that's on average, remember – some folks walk out with more cash than they came in with. Slots are the cash cow for these places, not the fancy table games. And it's not the high rollers keeping the lights on – it's the nickel and dime players.

Now, the big question: how many casino-goers have got a gambling itch they just can't scratch? The number's fuzzy, but the smart money says it's about 2%. And these cats are the ones really lining the casino's pockets.

State governments have been playing their cards right, pushing casinos over the last few decades while keeping a tight leash on the number of spots you can gamble. This little maneuver keeps the casinos cozy with high profits and lets the states roll in the dough with those juicy tax rates. In the early days, states with casinos were raking it in from their casino-less neighbors, thanks to out-of-towners looking to try their luck. Take Charles Town in West Virginia – that place was printing money thanks to its prime location near Baltimore and D.C. That is, until those areas got their own spots to play.

States were also tossing out casino licenses on the cheap, which was like hitting the jackpot for the lucky recipients, as these licenses can fetch a pretty penny on the open market. We're talking hundreds of millions, folks. The winners here? The gambling industry big shots, racetrack owners, and the folks with the right connections. The total giveaway? Something like $20 billion over three decades.

When it comes to tribal casinos, the feds are the ones in charge. They don't ask for an upfront fee or a slice of the gambling action. These spots usually get off with minor federal payments and some state taxes, depending on where they are. In places like Florida and California, the tribal casino bigwigs are keeping a tight grip on their turf, shelling out big bucks on political moves to keep competitors at bay.

Keep Your Finger on the Pulse

You know, staying informed is super crucial, especially when it comes to the nitty-gritty of economic policies and the big moves happening in the business world. That's where the Committee for Economic Development (CED) jumps into the picture. These guys are like the brainiacs behind The Conference Board, cooking up all the public policy strategies. It's no joke — they're a powerhouse of anonprofit, steering clear of any political bias and always aiming for what's best for the nation. The folks calling the shots at CED? They're the bigwigs, the CEOs, and the top-tier execs from some of the biggest companies across the States. And let me tell you, their expertise is as real as it gets. We're talking about a crew that covers more than 30 different industries and speaks for a workforce that's 4 million strong. So when they have something to say about the economy, you bet it's worth listening to.